Latest news with #CreditAcceptanceCorporation
Business Upturn
12-07-2025
- Automotive
- Business Upturn
Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility
By GlobeNewswire Published on July 12, 2025, 01:02 IST Southfield, Michigan, July 11, 2025 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we extended the date on which our $75.0 million revolving secured warehouse facility will cease to revolve from September 30, 2026, to September 30, 2028. The interest rate on borrowings under the facility has decreased from the Secured Overnight Financing Rate ('SOFR') plus 210 basis points to SOFR plus 185 basis points. The amendment has also decreased the servicing fee from 6.0% to 4.0% of collections on the underlying consumer loans. There were no other material changes to the terms of the facility. As of July 11, 2025, we did not have a balance outstanding under the facility. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit . Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Globe and Mail
11-07-2025
- Business
- Globe and Mail
Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility
Southfield, Michigan, July 11, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we extended the date on which our $75.0 million revolving secured warehouse facility will cease to revolve from September 30, 2026, to September 30, 2028. The interest rate on borrowings under the facility has decreased from the Secured Overnight Financing Rate ('SOFR') plus 210 basis points to SOFR plus 185 basis points. The amendment has also decreased the servicing fee from 6.0% to 4.0% of collections on the underlying consumer loans. There were no other material changes to the terms of the facility. As of July 11, 2025, we did not have a balance outstanding under the facility. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit
Business Upturn
24-06-2025
- Automotive
- Business Upturn
Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
By GlobeNewswire Published on June 25, 2025, 01:02 IST Southfield, Michigan, June 24, 2025 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2027 to June 22, 2028. As of June 24, 2025, we did not have a balance outstanding under the facility. There were no other material changes to the terms of the facility. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit . Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
24-06-2025
- Automotive
- Yahoo
Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
Southfield, Michigan, June 24, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2027 to June 22, 2028. As of June 24, 2025, we did not have a balance outstanding under the facility. There were no other material changes to the terms of the facility. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit CONTACT: Investor Relations: Jay Brinkley Senior Vice President & Treasurer (248) 353-2700 Ext. 6739 IR@
Yahoo
23-04-2025
- Business
- Yahoo
Credit Acceptance Announces Timing of First Quarter 2025 Earnings Release and Webcast
Southfield, Michigan, April 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we expect to issue a news release with our first quarter 2025 earnings on Wednesday, April 30, 2025, after the market closes. A webcast is scheduled for Wednesday, April 30, 2025, at 5:00 p.m. Eastern Time to discuss first quarter 2025 earnings. Conference Call and Webcast Information:Date: Wednesday, April 30, 2025Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by telephone, you must pre-register using the following link: or through the link posted on the 'Investor Relations' section of our website at Upon registering you will be provided with the dial-in number and a unique PIN to access the webcast by telephone. Webcast Access: The webcast can also be accessed live by visiting the 'Investor Relations' section of our website at Additionally, a replay and transcript of the webcast will be archived in the 'Investor Relations' section of our website. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit CONTACT: Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@ in to access your portfolio
